3M (NYSE:MMM) Shares Acquired by Charles Schwab Trust Co

Charles Schwab Trust Co boosted its position in 3M (NYSE:MMM) by 13.8% in the 4th quarter, Holdings Channel reports. The fund owned 3,946 shares of the conglomerate’s stock after purchasing an additional 480 shares during the period. Charles Schwab Trust Co’s holdings in 3M were worth $509,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. FSA Wealth Management LLC acquired a new stake in 3M in the 3rd quarter worth about $27,000. Daymark Wealth Partners LLC grew its position in 3M by 8.6% during the third quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock valued at $30,000 after acquiring an additional 17,211 shares during the period. McClarren Financial Advisors Inc. raised its holdings in 3M by 118.6% in the third quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock valued at $30,000 after buying an additional 121 shares during the period. ORG Partners LLC lifted its position in 3M by 44.1% during the fourth quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock valued at $41,000 after buying an additional 98 shares in the last quarter. Finally, True Wealth Design LLC increased its position in shares of 3M by 2,466.7% in the third quarter. True Wealth Design LLC now owns 308 shares of the conglomerate’s stock worth $42,000 after acquiring an additional 296 shares in the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on MMM shares. JPMorgan Chase & Co. decreased their price target on shares of 3M from $165.00 to $162.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of 3M in a research report on Saturday. Barclays lowered their target price on 3M from $165.00 to $161.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Mizuho lifted their price objective on 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Finally, Melius Research upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 price objective on the stock in a research note on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $144.13.

3M Stock Performance

MMM opened at $141.02 on Tuesday. The company has a current ratio of 1.43, a quick ratio of 1.08 and a debt-to-equity ratio of 2.41. The business’s 50 day moving average is $131.24 and its 200-day moving average is $127.93. The stock has a market cap of $76.80 billion, a PE ratio of 17.81, a price-to-earnings-growth ratio of 2.30 and a beta of 0.95. 3M has a twelve month low of $75.40 and a twelve month high of $141.66.

3M (NYSE:MMM) last announced its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.93 by $0.05. The company had revenue of $6.29 billion during the quarter, compared to analyst estimates of $6.06 billion. 3M had a return on equity of 104.66% and a net margin of 15.37%. The firm’s quarterly revenue was down 24.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.68 EPS. On average, analysts predict that 3M will post 7.28 earnings per share for the current year.

3M Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Friday, November 15th were given a $0.70 dividend. The ex-dividend date was Friday, November 15th. This represents a $2.80 dividend on an annualized basis and a yield of 1.99%. 3M’s dividend payout ratio is presently 35.35%.

3M Profile

3M Company provides diversified technology services in the United States and internationally. The company’s Safety and Industrial segment offers industrial abrasives and finishing for metalworking applications; autobody repair solutions; closure systems for personal hygiene products, masking, and packaging materials; electrical products and materials for construction and maintenance, power distribution, and electrical original equipment manufacturers; structural adhesives and tapes; respiratory, hearing, eye, and fall protection solutions; and natural and color-coated mineral granules for shingles.